Ascometal Ends Talks, Seeks Court Protection

29 Mar 2024 CW Team

Swiss Steel Group's French subsidiary, Ascometal, announced on Wednesday the termination of exclusive talks with Italian steelmaker Acciaiere Venete regarding the sale of several of its sites in France, marking a setback in the company's efforts to restructure its operations.

The decision comes after negotiations initiated in December failed to culminate in a sale agreement, prompting Ascometal's management to pivot towards seeking court protection for the assets earmarked for sale. This move aims to provide additional time to explore alternative options for divestment.

Ascometal is now set to pursue court protection for various entities including its plants in Hagondange (located in Moselle), Custines (in the Meurthe-et-Moselle region), and Le Marais (in the Loire area). Additionally, the company intends to include the activities and workforce of CREAS, its research center, in the divestment process.

The decision underscores the challenges facing Ascometal in navigating the complexities of the steel industry, particularly amidst fluctuating market conditions and strategic shifts among key players. The failure to finalize the sale reflects the intricacies involved in such transactions and the need for careful consideration of various factors.

Ascometal's move to seek court protection highlights the company's determination to explore all available avenues to secure the future of its operations in France. Despite the setback, the company remains committed to finding a suitable buyer for its assets and ensuring continuity for its workforce.

The developments in Ascometal's divestment efforts also shed light on broader trends within the French steel industry, as companies grapple with structural challenges and seek to adapt to evolving market dynamics.

Infrastructure Urban

03 Nov 2025

Wipro to Drive HanesBrands’ GenAI-led IT 2.0 Transformation

Wipro Limited, a leading AI-powered technology services and consulting company, has signed a multi-year strategic agreement with HanesBrands Inc., a global apparel leader, to accelerate its IT 2.0 transformation. Using the Wipro Intelligence™ WINGS platform, the partnership aims to modernise HanesBrands’ IT infrastructure and cybersecurity operations with an AI-first approach. The collaboration marks a milestone in HanesBrands’ journey to establish a unified, AI-led managed services model. Wipro will deploy its WINGS Operations AI platform—part of the Wipro Intelligence™ suite—to ..

Ramco Named ‘Leader’ in APAC Payroll Matrix for Fourth Year

Global payroll and HR solutions provider Ramco Systems has been recognised as a ‘Leader’ in the Everest Group 2025 Asia-Pacific Multi-Country Payroll (MCP) Solutions PEAK Matrix® Assessment for the fourth consecutive year.This year, Everest Group evaluated 28 MCP service providers based on their market impact, vision, and capabilities. Ramco’s continued leadership stems from its two-decade focus on the Asia-Pacific region, extensive experience in payroll transformation, robust partner ecosystem, and advanced technology capabilities including local language support.Everest Group noted th..

Bondada Engineering Posts 153 per cent Revenue Growth

Bondada Engineering (BEL), a leading solar EPC and infrastructure company, announced strong financial results for the half-year ending September 30, 2025. The company achieved a 153 per cent increase in consolidated revenue and a 151 per cent rise in profit after tax (PAT) compared to the previous period. Consolidated revenue reached Rs 12.16 billion, with an EBITDA of Rs 1.43 billion and PAT of Rs 925 million. The company’s order book stood at Rs 59.9 billion, ensuring continued growth momentum. The Renewable Energy segment contributed 78% (Rs 9.5 billion) to total revenue, followed by T..